Joint committee established to oversee recovery of outstanding debts – CAGD tells PAC

The Acting Controller and Accountant General, Mr. Kwasi Adjei, has assured the Public Accounts Committee (PAC) that a joint committee team has been established between the CAGD and the Ministry of Finance to oversee the recovery of the outstanding debts.

Thsi was after he acknowledged the Department’s shortcomings but emphasized that they operate under the Ministry of Finance, providing public financial management services to the government and the general public.

The PAC had expressed dissatisfaction with the performance of the CAGD regarding its failure to recover substantial state funds locked up with various companies and state institutions across the country.

During a session in Parliament to examine the 2023 Auditor-General’s on the public accounts of Ghana: Public Boards, Corporations and other Statutory Institutions, the Committee stressed serious concerns. The report revealed that a total of GH¢61 billion Ghana cedis of state funds remain uncollected, with only GH¢46 million retrieved so far.

The Auditor-General recommended that the CAGD implement a more robust tracking system to ensure that all transfers are properly recorded and easily traceable.